Financials retreat after bank earnings
By SUECHANG MARKETS REPORTER | RYAN VLASTELICA MARKETS REPORTER
The Dow on Friday reclaimed its perch above the 25,000 level for the first time in nearly a month while the technology-powered Nasdaq to a record, underlining an uptrend that has been driven by signs of economic strength and solid quarterly earnings, even if results for banks on the day failed to prove an immediate catalyst.
The day’s moves marked the sixth positive session in the past seven, suggesting that Wall Street was shaking off uncertainty surrounding trade policy that has served as the market’s most severe headwind in recent months.
How did the benchmarks perform?
The Dow Jones Industrial Average DJIA, +0.38% rose 94.52 points, or 0.4%, to 25,019.41.
The S&P 500 index SPX, +0.11% gained 3.02 points, or 0.1%, to 2,801.31, representing the first finish above the round-number level at 2,800 since Feb.1, according to FactSet data. Energy and industrials were the market leaders while financials ended lower following mixed results out of major banks. [MORE: Go to link here.]Posted in News You Can Use